CRI听力:China Polls Banks on Ending Benchmark Deposit, Loan Rates: Bloomberg

China's central bank has reportedly surveyed banks on the possibility and potential impact of removing its benchmark deposit and lending rates. [File Photo: sina.com]

It's being reported that China's central bank recently surveyed banks on the possibility and potential impact of removing its benchmark deposit and lending rates.

The report by Bloomberg says the PBOC has asked lenders whether they use the Loan Prime Rate.

Commercial banks charge the LPR, which is calculated based on rate submissions from nine lenders, to their most high-quality clients.

China's central bank, which sets the benchmark one-year deposit and lending rates, has already removed their upper and lower limits.

Policy makers have cut both rates six times since late November last year to help boost the economy.

For more on this topic, CRI’s Shane Bigham spoke with Gao Shang, senior analyst with Guantong Futures.